sunboy:



I get your point on sustainability, thats the only concern I have too. But trust me, 250m a month won't hurt our economy if the niger delta unrest reduces. Plus, with the current situation do we have figures of what's been stolen daily ? They don steal in naira anymore, we saw what happened in past administration.

Our external reserve is just 30billion oooo for 190million ppl,when countries with far lesser population have external reserves of 100 billion and above

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onatisi:

Why Foreign Exchange Reserves are Important  Vinish Parikh  February 9, 2010 Foreign exchange reserve can be defined as deposits of a foreign currency held by the central bank of a country. Here are some of the reasons why it is important for a country to have good amount of foreign exchange reserves – 1. It increases the confidence in the monetary and exchange rate policies of the government. 2. It enhances the capacity of the central bank of the country to intervene in the foreign exchange market and control any adverse movement and stabilize the foreign exchange rates to provide a more favorable economic environment for the progress of the country. 3. During time of any crisis foreign exchange reserves come to the rescue of any country so as to absorb the distress related to such crisis. 4. It also adds to the comfort of market participants that domestic currency is backed by external assets and hence it also helps the equity markets of the country, because due to strong reserves many people from foreign countries are willing to invest in the country having strong foreign exchange reserves. However holding too much foreign exchange reserves is also not advisable because it involves the opportunity cost of money tied in reserves rather than investing somewhere else which could have earn higher return on the invested amount.

Your point number 2 & 3 already justified the action of prof. osibanjo (AP)

How long do you think the speculators/hoarder can hold on to the USD ??

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Birniwa:


@Mandilax just bought $200 now. Current liquidity is now $330.

[s]I repeat.. D€alership stay away, I can't sell to you even with 10 escrow plus Nairaland owner as supervisor.

[/s]

Remaining $333 sold to Nurd.

I know of $29 billion.

I may be wrong tho

lifestyle1:


How much is our external reserve ?

And in what currency ?

saintiflex:
345 Btc available @ 450

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Escrow allowed

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onatisi:

Our external reserve is just 30billion oooo for 190million ppl,when countries with far lesser population have external reserves of 100 billion and above

That's an old story jor, are you just knowing that one ?

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Profcamsey:
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Come sir

You don't sell UK gift card ni ?

megatran:
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chiefkpokp:
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This man just dey steal all customers o. Which level nw Samson ?

sunboy:


Come sir

onatisi:

Sold.at what price?
You still don't get what I am saying
.it seems I cant be a good teacher though. But lets just wait and see. There will be a lot of political fireworks when the effect of this policy sets in.
Let me simplify it. You give me the dollars ,I send it abroad . Now u go to ur bank again to bring more. Notice that I am giving u naira where as the dollars u are giving me is coming from abroad. The most reasonable thing to do is to use the dollars I have and the naira I have to bring in more dollars. Instead of government pumping money into the fx market,they should rather hands off,let the naira find its value ,this will eventually discourage importation and increase exportation. But now they have opened the nations vaults and are throwing the dollars out. Eventually they will.stop.it cant continue for long

This your analysis is flawed. we dont produce anything including raw materials so even the factors of production exluding labour must be imported. so if you allow the free fall of naira where are we going to get money to import machines and other stuffs we need to produce. local production can only be encouraged with a stable naira and good policy such that international investors will come in first with their factors of production and use our labour. our labour, once empowered can start such productions themselves. with stable naira we can now gradually become an exporter. in simple terms, i want to start producing common toothpicks, i need a cutter that will cut it to pieces. we only have bamboo we dont have the cutter. if the dollar is 1000naira, i wont even get money to import the cutter in the first instance. so it is a gradual process and the govt must do everything to defend the naira and maintain stability over a long period then re orientation can start

DjSwaga:
I know of $29 billion.

I may be wrong tho

Then why not use 2.5 billion out of the 29 billion to rescue the naira ?

Before it gets out of hand.

I believe the price of oil will still rise.

.

onatisi:

Our external reserve is just 30billion oooo for 190million ppl,when countries with far lesser population have external reserves of 100 billion and above

seems you are someone who doesnt like to accept defeat on arguments.

We have 190m Nigerians,
how many know about dollars?
How many has ever changed naira to dollar?
Are we all importers?
Don't we export?
% of Nigerians that don't use $$ for anything is higher than those using fx. , who are those demanding for $$ ? The theiving manufacturers, thieves at the top that are using illegal means to get dollars and later resell or the 190m Nigerians including kids, villagers, traders, market women etc?

lifestyle1:


Then why not use 2.5 billion out of the 29 billion to rescue the naira ?

Before it gets out of hand.

I believe the price of oil will still rise.

For 10 month spread is not bad at all.
They have stolen more than that in a month na.

lifestyle1:


Your point number 2 & 3 already justified the action of pro. osibanjo (AP)

How long do you think the speculators/hoarder can hold on to the USD ??

no speculator have the balls to hoard dollars now cos they will all run into debt. the miracle that will follow this fall will bring some set of ppl back to square one. We just need to watch how things goes next week cos I know wise investors won't hoard $$.

Anybody that's against the fall will enter the wall soon.

lifestyle1:


Then why not use 2.5 billion out of the 29 billion to rescue the naira ?

Before it gets out of hand.

I believe the price of oil will still rise.

Wetin you dey drink sef ? I owe your two bottles.

The possibilities of oil price is not predictable though. But trust me, dollar itself will lose some value soon under trump administration especially regards its immigration policy.

With CBN policy is maintained, labor issues in US will soon erupt and might get worse if ICE follow trumps order strictly. Better days for naira.

LaconicINC:
Omo we get many lecturers for this thread oo

In fact, Them pass lectural, them be economist.

helpee:
This your analysis is flawed. we dont produce anything including raw materials so even the factors of production exluding labour must be imported. so if you allow the free fall of naira where are we going to get money to import machines and other stuffs we need to produce. local production can only be encouraged with a stable naira and good policy such that international investors will come in first with their factors of production and use our labour. our labour, once empowered can start such productions themselves. with stable naira we can now gradually become an exporter. in simple terms, i want to start producing common toothpicks, i need a cutter that will cut it to pieces. we only have bamboo we dont have the cutter. if the dollar is 1000naira, i wont even get money to import the cutter in the first instance. so it is a gradual process and the govt must do everything to defend the naira and maintain stability over a long period then re orientation can start

chop knuckle

sunboy:



Wetin you dey drink sef ? I owe your two bottles.
.

Give me 2 bottles of chilled origin.

lifestyle1:


Give me 2 bottles of chilled origin.

I got you

Nawa o...
Sha come and pack my 57$ Btc and 150$ Payoneer ...
I need Naira

lifestyle1:


Give me 2 bottles of chilled origin.

Bros I don keep my straw for pocket. Make I show?

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